GRYD Energy funding news – London-based GRYD Energy Secures £1 Million in Pre-Seed Funding

For many households, the high cost of solar hardware has been a major barrier. Around 8.5 million UK homeowners have roofs suitable for solar but can’t afford the initial investment.

It covers the cost and maintenance of solar hardware for 25 years, saving developers up to £10,000 per home while letting homeowners enjoy lower energy bills from day one.

A GRYD subscription costs around £65 per month for a four-bedroom home. This fixed price includes maintenance and insurance for the entire 25-year lifespan of the system.

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The company successfully ran a three-home pilot project in Cornwall, testing its software. It also signed an energy export deal with Good Energy, creating a reliable revenue stream.

With several projects already lined up, GRYD plans to roll out its service to hundreds of homes across the UK in 2025, with a goal to scale to 30,000 new-build homes over the next three years.

Mohamed Gaafar, CEO and co-founder of GRYD, said: “With around 250,000 new homes being built in the UK each year, the untapped solar potential of our residential rooftops is immense and only continues to grow — as does the pressing need to ensure that Britain’s new housing stock is futureproofed and primed for a clean, energy-efficient future.”

Investors in it’s Pre-Seed round include Black Seed VC, a venture firm supporting Black business founders in the UK, SFC Capital, and Oasthouse Ventures. Simon Turner, Director at Oasthouse Ventures, has extensive experience scaling renewable infrastructure businesses globally and has joined GRYD’s board as Investor Director.

Richard Thwaites, founder and former CEO of energy storage company Penso Power, has also invested in GRYD.

Karl Lokko, Founder & Managing Partner of Black Seed VC, said: “We’re The GRYD Energy team’s vision for clean, accessible energy is matched by the experience, grit, and enthusiasm that’s impossible to ignore. We’re proud to stand alongside them as they turn ambition into impact.”

It will use the new funding to make key hires, form more energy import and export partnerships, and introduce flexibility services. These services will help customers save more by charging and discharging stored energy based on price changes, while also supporting the grid’s capacity.

About GRYD

GRYD is creating a next-generation alternative to the energy grid. They fund, manage, and optimize smart solar systems for homeowners. Powered entirely by clean solar energy and backed by smart software, GRYD makes solar energy accessible and affordable for millions of households.